Congress is poised to pass the bipartisan bill to restructure Puerto Rico’s $72 billion debt — a sign that Washington can move in an emergency.

The emergency measure has the backing of President Obama and congressional leaders on both sides of the aisle. In other words, liberals and conservatives compromised to serve the needs of 3.6 million US citizens.

PROMESA, the Puerto Rico Oversight, Management and Economic Stability Act, may not be perfect, but it’s a rational response to the island’s crisis. It provides for debt restructuring — not a taxpayer bailout — to let Puerto Rico recover from its crisis.

It does not grant Chapter 9 bankruptcy powers — which aren’t available to states, either. And it leaves the island’s elected governor and Legislature in charge of Puerto Rico’s budget-making process.

Unless, that is, they fail to reduce the debt to a sustainable level. At that point, a new seven-member federal control board, with members largely appointed by Congress, can impose an alternate plan.

That’s a bitter pill — but an acceptable response to the mismanagement that got Puerto Rico into this mess.

New York City got stuck with its own control board after it nearly went bankrupt in the 1970s — and it worked.

The Puerto Rican rescue also sets up a congressional task force to report on barriers to the island’s economic growth caused by federal laws and regulations. That could be a huge help: Congress’ decision decades ago to impose the federal minimum wage on Puerto Rico wound up devastating many of the island’s traditional industries.

As House Speaker Paul Ryan said, “PROMESA is the best chance for creditors to get paid, for Puerto Rico to get on the right track and — most importantly — for American taxpayers to be protected.”

By the way, mainlanders shouldn’t feel too smug about Puerto Rico’s woes: Not far down the line, this legislation may have to provide a template for federal rescues of states like New Jersey, Connecticut and Illinois.